Romania’s Azomures takeover by Swiss Ameropa finalised

22 March 2012 12:00  [Source: ICIS news]

BUCHAREST (ICIS)--The acquisition of a majority shareholding in Romania's Azomures by Swiss grain and fertilizer trader Ameropa Holding - through its subsidiary Pelican Fertilizers - has been finalised, Azomures said on Thursday.

This follows a decision by Romania’s competition council on 16 March to clear the acquisition, according to a filing released by Azomures to the Bucharest stock exchange.

Pelican Fertilizers is a subsidiary wholly-owned by Ameropa and incorporated under the laws of Switzerland. Ameropa is a grain trader in Romania through its cereal storage company.

On 25 November, a Turkish group of investors that control Azomures Holding and Eurofert, which together hold 75.9% of Azomures, successfully concluded negotiations with Ameropa Holding for acquiring the stake in the fertilizer producer.

Azomures, Romania's largest fertilizer producer, has ammonium nitrate (AN) and calcium ammonium nitrate (CAN) units, both of which produce about 300,000 tonnes/year.

The company reported a net profit of New Lei 346m ($104m, €79m) last year, mainly because of higher fertilizer prices and improved demand. Net sales in 2011 rose 35% year on year to New Lei 1.62bn.

($1 = New Lei 3.31)
(€1 = New Lei 4.37)

By: Marian Chiriac
+44 20 8652 3214

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